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Mortgage Tips

Mortgage Bait and Switch

Did you negotiate a cheap mortgage and then wonder: what’s stopping my lender increasing the interest rate straight away?

Well, there’s nothing. And they do. Slowly.

Ever notice your lender offering new customers a cheaper interest rate than yours?

Well, that’s no accident.

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Get mortgage free and own your home faster

Get mortgage free and own your home faster

Bad decisions on a $400,000 home loan can easily cost you $100,000.

If you already have a mortgage, it’s not too late to fix old mistakes (or avoid making them with your next loan).

You should review your mortgage every 2 years anyway.

Why? Because less income needed to payout your mortgage means more money for other areas of your life. Your mortgage is probably the biggest financial commitment you will make in life. It is easy to get right and just as easy to get completely wrong.

Most people are surprised to find out that a low interest rate is not the most significant factor in reducing mortgage cost and paying out a loan faster.

You won’t see lenders advertising most of the tactics available to you, as it’s not in their best interests – the longer it takes to payout your loan, the more money they make. Lenders make money by lending you as much as possible, for as long as possible and with fees as high as they can get away with.

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